Well my life in my current flat will be coming to an end in a few months, so there are decisions to be made....
I have ~8k in savings, some of which in shares which firstly I guess that I should move into cash(and realise gains/losses).
Do I then:-
A) Look to share a flat with someone else
B) Get a flat on my own to rent
C) Look into a FTB Mortgage - perhaps one of these shared equity things
D) Take the oppertunity for some time out, and travel.
Each all have their merits, but in the current financial climate, what are the general pros/cons of buying/renting a flat these days?
I mean I could potentially rent by myself/share for the next year, then have a greater deposit(If i push, I reckon 15k+), or do I go for it now.
Is there any downside to the shared equity mortgages - from first glance my payments would be lower, but could I overpay and reduce this further/own more?
All comments/thoughts/advice welcome.
I have ~8k in savings, some of which in shares which firstly I guess that I should move into cash(and realise gains/losses).
Do I then:-
A) Look to share a flat with someone else
B) Get a flat on my own to rent
C) Look into a FTB Mortgage - perhaps one of these shared equity things
D) Take the oppertunity for some time out, and travel.
Each all have their merits, but in the current financial climate, what are the general pros/cons of buying/renting a flat these days?
I mean I could potentially rent by myself/share for the next year, then have a greater deposit(If i push, I reckon 15k+), or do I go for it now.
Is there any downside to the shared equity mortgages - from first glance my payments would be lower, but could I overpay and reduce this further/own more?
All comments/thoughts/advice welcome.